Nigerian Government and Foreign Airlines Initiate Discussions Over Rising Airfares

 The Federal Government of Nigeria has commenced negotiations with foreign airlines operating in the country to address the escalating cost of air travel. In recent months, passengers have expressed concerns over significant increases in ticket prices for international flights, attributing the hikes to foreign exchange challenges and operational costs.

The Minister of Aviation, Festus Keyamo, during a press briefing in Abuja, acknowledged the issue and emphasized the government’s commitment to finding a sustainable solution. He noted that the discussions aim to balance the economic interests of the airlines with the affordability of air travel for Nigerians.

Representatives of major international carriers have cited difficulties in repatriating funds due to foreign exchange restrictions, leading to increased fares to mitigate potential losses. The International Air Transport Association (IATA) has previously highlighted the issue, urging the Nigerian government to facilitate the repatriation of airline revenues.

The ongoing talks are expected to explore mechanisms to ease foreign exchange constraints and develop policies that encourage competitive pricing. Stakeholders remain optimistic that a resolution will be reached to stabilize airfare prices and ensure the sustainability of international air travel in Nigeria.